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J.C., I don't know how the administration can work the numbers to suggest the recession is over, but that aside what does our future hold? If I'm not wrong, many of us believe our consumer dollars going to communist china are a big problem that must change in order for our economy to stabilize and grow. I think the republicans will take control washington, including the Presidency. My question to the Forum is, what will they do differently to bring jobs back to the USA, secure our borders and break the failed pattern of bailouts and stimulus? Lastly, do tea party candidates have a real chance or will they become republican spoilers?

The “Great Recession” has ended, officially.
At least, that's the word from the private, nonprofit research organization that calls the beginnings and endings of recessions, the National Bureau of Economic Research.
The NBER said Monday that the recession which began in December 2007 ended in June 2009, which marked the beginning of an expansion. The announcement rules out the possibility of a so-called “double-dip” recession, because any new downturn would be seen as a brand new recession.Story: Obama: Much more work needed to fix the economy
President Barack Obama said that even though the NBER officially named an end to the recession, the economy has a long way to go and much work to be done to become healthy again. "Something that took ten years to create is going to take a little more time to solve," Obama said at a town-hall-style meeting shown live on CNBC.
The NBER said it chose the June 2009 date based on examination of data including gross domestic product, employment and personal income.
"The recession lasted 18 months, which makes it the longest of any recession since World War II. Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months," the NBER added in a press release on its website.
Just because the recession ended 15 months ago, it doesn't mean that the economy is healthy, the NBER asserted. "Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion," the NBER said.Readers, are you jumping back into the job hunt? In April, the NBER declined to call the end of the recession, and some of its members said at the time they were concerned the economy could dip back into negative territory. In Monday's announcement, the NBER said any fresh downturn would mark a new recession, not a continuation of the one that began in December 2007.
"The basis for this decision was the length and strength of the recovery to date," the NBER said.
U.S. officials have been struggling to find a way to speed up a sluggish recovery that has left unemployment at a painfully high 9.6 percent. The U.S. Federal Reserve's policy-setting committee meets on Tuesday and is widely expect to discuss whether additional measures are warranted to bolster the economy.
The NBER normally takes its time in declaring a recession has started or ended.
For instance, the NBER announced in December 2008 that the recession had actually started one year earlier, in December 2007.
Similarly, it declared in July 2003 that the 2001 recession was over. It actually ended 20 months earlier, in November 2001.
Its determination is of interest to economic historians — and political leaders. Recessions that occur on their watch pose political risks.

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I'm so excited!! At my credit union they have CD rates starting at 0.5% for 4 years! WOW! now that's exciting minimum deposit required $25,000,00!!!!
regular savings is around 0.1% with a large minimum balance required!
If you have an account that's inactive? they charge you $5.00 a month!
Their credit cards are around 21-29%
Their fee schedule went from a few items to a full page small print to boot. Do not even think of asking the teller what time it is..they will charge you $7.50

I think I'll order another case of plastic containers to sell to folks so they can bury their money in the back yard as coffee cans are now cardboard!

I just saw an ad on TV for a collectible two dollar bill for only $10.00 plus shipping....why didn't I think of that darn!

I also listen to those financial advisers on AM radio telling folks if they save X dollars today at 7% they can accumulate XXX dollars.
Anyone know where I can find anything earning of 7%?????

Oh some really good news....regular gas has dropped to $2.56-9
for a few days from 2.59-9 and is now slowly going back up.

I'm so happy the rescission is over because the credit union did hint about simply charging us fee to hold any of our money! but now they can give us 0.1 to 0.5% interest without any guilt!

Comment

I'm so excited!! At my credit union they have CD rates starting at 0.5% for 4 years! WOW! now that's exciting minimum deposit required $25,000,00!!!!
regular savings is around 0.1% with a large minimum balance required!
If you have an account that's inactive? they charge you $5.00 a month!
Their credit cards are around 21-29%
Their fee schedule went from a few items to a full page small print to boot. Do not even think of asking the teller what time it is..they will charge you $7.50

I think I'll order another case of plastic containers to sell to folks so they can bury their money in the back yard as coffee cans are now cardboard!

I just saw an ad on TV for a collectible two dollar bill for only $10.00 plus shipping....why didn't I think of that darn!

I also listen to those financial advisers on AM radio telling folks if they save X dollars today at 7% they can accumulate XXX dollars.
Anyone know where I can find anything earning of 7%?????

Oh some really good news....regular gas has dropped to $2.56-9
for a few days from 2.59-9 and is now slowly going back up.

I'm so happy the rescission is over because the credit union did hint about simply charging us fee to hold any of our money! but now they can give us 0.1 to 0.5% interest without any guilt!

I have goose bumps

Cactus Man

I have any every day savings account with ING and get 6.4% on my money in OZ pay 11.74% on my credit card my mortgage on my home at 6.74% and petrol at $1.10 per Litre.